TraderTroopa

TraderTroopa Updated 

Short term countertrend trade on the S&P500. My post has already been late as I have already short positions around 1,990. Why to Countertrend this: 1. Prices have been overstretched and stayed in the overbought levels for so long 2. Need to establish a swing low 3. Current price is hitting a resistance zone Why this entry setup has acceptable probability of...

TraderTroopa Updated 

Short Oil upon upward retracement

TraderTroopa

Actually, I have open short position on USDCAD currently pending to close once upside reversal TAKES place IF it happens. And IF it happens, planning to reverse my short positions to longs. This USDCAD long trade is ONLY a CONTINGENCY, a potential due to the fact that it MAY bounce from the long-term trendline. To be honest, fundamentally I'm bearish on CAD as...

TraderTroopa

Few hours to go before the candle close at the daily for February 25, 2016 and it's forming a bullish pinbar over key support areas (1) horizontal support , (2) trendline channels , (3) and fibonacci retracements. THIS IS A BUY WITH STRONG PRICE ACTION CONVICTION.

TraderTroopa

Bearish on $DXY, possible to stall or retrace from 95, break it and we look next to 93

TraderTroopa Updated 

I'm long-term bearish on the S&P, but this upward retracement I don't want to miss/ Why to buy: Prices bounced of key support areas which are bronze colored lines in the chart. If you want to validate, check the chat at the weekly, it's a clearer view of support level intact-with a bullish hammer. When to enter: I'm expecting to pull back near the support...

TraderTroopa Updated 

Why should we be bullish: Downtrend channel was already broken last friday, supported by strong indications (Strong MACD and Stochastics) coupled with price action (higher highs and higher lows). If we take a step back at the daily chart, you can even notice that 1.10720 was a retracement from the fibo! When to enter: Let's wait to show a buy signal from the...

TraderTroopa

Check the chart, it has broken the downtrend last Friday. If you're checking out the swing at the daily, 1.0730 was actually a retracement. EUR bouncing from that justifies this upward swing and let's this opportunity at an early stage. When to enter: Buy once it holds within the upward channel (Blue lines) with buy confirmation from the stochastics. When to...

TraderTroopa

Long USD

TraderTroopa

Fundamentally, the Peso has been undervalued due to external pressures. I'm strong on the position that this should appreciate. Lower commodity imports in nominal terms (due to low commodity prices) is benefiting the trade balance. Philippines has a very resilient and consistent sources of Dollars from OFWs and the BPO sectors which they need to convert to Peso....

TraderTroopa

Index is also waiting whether or not there will be a FED rate hike

TraderTroopa

After the selloff, we see a very nice and straight red wall on the charts. The next days after that showed recovery and retested support levels which we hope to hold. However, many risks ahead. Better to wait for Ms. Yellen on the third week of September.

TraderTroopa

Earthlings say this is safe heaven. The Galactic Empire doesn't care. Economies are still at stall. I say we still sell this down and wait for Ms. Yellen to stop pumping money.

TraderTroopa

I've been watching Nickel before I left the Death Star since April 2014. As expected when the cup and handle formation was completed last March 2015, I knew this was going to waterfall. May the force be with nickel prices to drop down lower so I can have a oozing margin once I sell this to Yoda. However, strict technical analysis of cup and handle formations show...

TraderTroopa

Longterm chart at the weekly showed an inverted cup and handle formed from 2009 up to the present? Looking at the daily timeframe still reflects weak momentum on the upside, and strong pressure to the downside. Past weeks have been tough for the markets. China, Japan, and Europe all showed weak manufacturing figures. When the major economies are slowing down, can...